Nov 27, 2006

Gulf Oil wins Rs 300 crore mining project

Gulf Oil wins Rs 300 crore mining project:
Hinduja Group's Gulf Oil Corporation has received Rs 300 crore miningproject from Singareni Collieries Company Ltd (SCCL) while Rs 190crore project from Coal India Ltd. The company's total order book hastouched Rs 400 crore with the new orders. This is the first time themining services are outsourced for open cast mines. The work isexpected to commence in January 2007. Gulf Oil shares closed at Rs1,565.95 on BSE up 6.26% during the week.
Traders can buy at CMP with stoploss of rs.15

Suzlon plans to invest Rs 861 crore
Suzlon is planning to invest Rs 860.73 crore for capacity expansionof its Belgian wind gear box facility to 5800 MW from present 3200 MWby December 2007. The expansion will be financed by local banks andthrough internal accruals. The company earns 60% of its revenue fromlocal markets and aims to increase its international revenue to thesame extent. Suzlon targets a growth rate of around 50% in terms ofrevenue. Suzlon shares closed at Rs 1,380.45 on BSE down 3.52% duringthe week.

Finolex plans to invest Rs 15 crore in PVC pipes
Finolex Industries is planning to invest Rs 15 crore for expandingthe annual capacity of its PVC pipes to 85,000 tonnes from current65,000 tonnes. The company is positive about its PVC pipes business,which is growing at 24%. Its pipes division contributed to Rs 384crore to the total revenue of Rs 1000 crore recorded by the companyduring 2005-06. Finolex shares closed at Rs 93.20 on BSE up 3.79%during the week.

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